ARTICLE | Company News

NeoStem, Progenitor Cell Therapy LLC deal

October 4, 2010 7:00 AM UTC

NeoStem will acquire Progenitor Cell Therapy in a stock deal. NeoStem will issue 11.2 million shares of its common stock, valued at $21.4 million, based on NeoStem's close of $1.91 on Sept. 22, the day before the deal was announced. Progenitor shareholders will also receive warrants to purchase up to 3 million additional shares of NeoStem common stock. NeoStem said Progenitor's cell therapy manufacturing and distribution services would be accretive to NeoStem's stem cell operations. ...